SEPTEMBER 24, 2013 ROTARY IN REVIEW: Health Insurance Decisions Under the Affordable Care Act

Posted by Charles H. Standfuss 
on Sep 24, 2013
 
Local insurance executive Chris Schneeman's family is in its fourth generation in the insurance business in Saint Paul.  He provided Club 10 with an overview of the decisions that employers are facing to deal with the changes coming with the implementation of the Affordable Care Act.  Although some analysts are concerned about the coming changes, Chris outlined opportunities as well.
 

Club 10 Business Report

President Jim Kosmo brought the meeting to order at 12:30 p.m. on a gorgeous early fall day in downtown Saint Paul.  Jim Field led the assembled Rotarians in singing My Country 'Tis of Thee accompanied by Dennis Boom on the piano.  Ken Peterson provided today's invocation ("faith - hope - love make us strong and help us face the future").  Rusty Seltz facilitated the introduction of visiting Rotarians and guests.  Today's Greeters were Mike Franklin and Darrell Butterwick.  President Jim announced that there is NO Fellowship Breakfast on Thursday due to the Rose Sale that day.  Mike Franklin reminded everyone to "like" Saint Paul Rotary on Facebook.

Jay Pfaender, chair of the Program Committee, provided a preview of next week's program.  The CEO of Stratasys will be with Club 10 to talk about this local and international success story which produces 3-D printed parts.  Carla Hauge reported that 900 dozen roses have been sold this year and you can still buy more.  The roses will be distributed Thursday with pick up at Van Paper.  John Chandler reminded everyone of next week's Pine Tree Apple Orchard event for Rotary families to be held on Thursday, October 3, starting at 5:30 p.m.  Tickets are $16 for adults and $7 for children with registration being taken at the Club 10 website stpaulrotary.org  

ImageDick Nicholson introduced new member Tim Burkett of People Incorporated. Barbara Nichols is retiring (again).  It's nice that People Incorporated will still be represented in Club 10.  Welcome Tim.  Youth Exchange Student Hans Wachtler gave a presentation on his year in Japan in the city of East Takasaki.  Hans was co-hosted by two Rotary Clubs in Japan.  The year gave him an opporunity to figure out what kind of person he wants to be.  For this he offered a "deep thank you" to Club 10.

Doug Bruce introduced today's speaker, Chris Schneeman, local insurance broker and owner of Seven Hills Benefit Partners.  Mr. Schneeman's family has been in the insurance business in Saint Paul for four generations.  He came today to provide an overview of the decisions available to business owners and employers with the upcoming implementation of the Affordable Care Act.  His analysis was in four parts:  dealing with change; items of interest in the new law; opportunities in the new law; and a few additional facts.  Mr. Schneeman encouraged businesses to adopt a "change' perspective.  Change is inconvenient , but it will be OK because people adapt.  If you have not made any decisions yet, you are not alone, since 40% of employers are uncommitted toward a 2014 plan.  He suggestd that we are all learning, particularly with health insurance, so engage your employees early in the discussion.  Employers will face the choice of either sponsoring a health plan for employees or not sponsor a health plan and let employees find their own coverage.  Either response is reasonable.  The goal should be to make a decision appropriate for your business and effectively communicate that to your employees.

Mr. Schneeman pointed out several opportunities as implementation approaches.  Local insurance carriers are very aggressive right now and "bidding" coverage between carriers can be rewarding.  Small groups may have an opportunity to avoid the effect of community rating for up to one year by making new plan effective dates start on December 1, 2013.  This may be a good time for small employers to consider self-funding.  For employers who had employees ineligible for the existing group plan, this is an opportunity to provide benefits for all employees by integrating public plans and MNsure.  For additional opportunities and other interesting facts about the Affordable Care Act, see Mr. Schneeman's presentation in full.  (Note:  the file was too large to upload to the website but if you would like a copy of his PowerPoint presentation please contact the Rotary office.)

President Jim thanked Mr. Schneeman for his remarks and noted that a donation in his name would be made to the Saint Paul Public Library's "Read With Me" program.  He also awarded Mr. Schneeman with an official Rotary coin featuring the Four-Way Test ("Is it the Truth?  Is it Fair to all concerned?  Will it Imagebuild Goodwill and Better Friendships?  Will it be Beneficial to all concerned?").  He then adjourned the meeting at 1:35 p.m.

Chuck Standfuss, Scribe